PA 315
Government Business Relations
Chapter 11
1
Up till now, we have completed the first portion of class, which we focused on economic development policies and practices in domestic context. We examined the tensions between government business relations in the following dimensions:
market vs. government (how much role should government play in economic development)
public interest vs. private interest (how to balance the pubic and private interests in economic development)
Starting from today, we are going to the second half of the class, focusing on economic development policies in the international context. The tensions between government and business relations are examined in the following perspectives:
neoliberalism vs. protectionism (how extensive should government policies be promoting free trade and protecting domestic industries)
national interest vs. global responsibility (as a player in the global arena, how to balance the national interest and its global responsibility)
What’s left…
Globalization
Neoliberalism and Protectionism
North American trade agreements (examples of regional trade agreements) –NAFTA – North American Free Trade Agreement
Free Trade vs. Fair Trade –
European Union (regional economy and political integration) –
IFO: International Finance Institutions –
In the second half of the class, we will shift to analyze the international trading regimes and government’s role in managing them. Here are the topics as listed in your syllabus.
NAFTA – Mexico, Canada, and United States
CAFTA – Expansion of NAFTA – includes Central American countries of
1. Costa Rica
2. El Salvador
3. Guatemala
4. Honduras
5. Nicaragua
In 2004, Dominican Republic was added and the agreement was renamed CAFTA –DR
The free trade area of the Americas is an expansion to the NAFTA. Representatives from all countries in North, South, and Latin America, as well as the Caribbean are involved. The only country not represented is CUBA.
2
What is globalization?
When you think of globalization, do you think of it in positive terms or negative terms?
Globalization
Globalization is an umbrella term
It is the free movement of goods, services, and people across the world in a seamless and integrated manner
Things to consider…
Most regions are self sufficient – locally produced foods, fuels and raw materials are generally processed for local consumption.
Even though trade has been around for centuries (silk traders), trade between regions was limited.
Today, economies of most countries are interconnected creating a single, interdependent global economy.
The term globalization includes change through the spread of ideas, information and perceptions which lead to cultural and social changes.
4
The world is entered into an era of globalism or globalization, which is an umbrella term for a complex series of economic, social, technological, cultural and political changes. It is seen as increasing interdependence, int ...
Globalization is the process by which ideas, knowledge, information, goods, and services spread around the world through integrated economies marked by free trade and movement of capital and labor. The document discusses the three main components of economic globalization: production, finance, and markets. It also examines cultural globalization through the globalization of food, sport, and converging consumption patterns. Political globalization is discussed through examples like the European Union and NATO, which establish international norms and ease movement and trade but can also decrease accountability. The global economy refers to interconnected worldwide economic activities between countries that can have positive or negative impacts, and emerging markets are important for long-term world economic outlook and microeconomic importance.
This document provides an introduction to the study of globalization. It defines globalization as the increasing connectivity between people across large distances. The document outlines intended learning outcomes, competing conceptions of globalization, and perspectives from different disciplines. It also discusses theories of globalization, the emergence and expansion of global markets, arguments for and against homogenization, and potential harms of globalization.
Globalization, nationalism, and public administration present challenges and opportunities:
1. Globalization increases economic integration worldwide while nationalism promotes unique national identity, creating tensions.
2. Globalization impacts governance by increasing the influence of private actors and reducing the state's role, though the state still regulates economic policies.
3. It also blurs public-private distinctions as private firms provide more public services while governments operate more like businesses.
The document discusses different perspectives on the concept of globalization. It begins by explaining mainstream economic views of globalization as increasing international trade and integration of markets. It also discusses emerging views that see globalization's impacts as reaching beyond economics to transform political, social and cultural institutions as well. Globalization is described as occurring through various dimensions including changes in firms and production processes, the rise of global governance systems, and social and environmental movements. The challenges it poses for government policymaking are noted. Overall, the summary captures that the document presents a wide-ranging overview of concepts and debates surrounding the multidimensional nature and impacts of globalization.
Globalization refers to the increasing integration and interdependence of countries through increased movement of goods, capital, services, and people across borders. It involves growing economic, political, and cultural interconnections between societies around the world. Key aspects of globalization include the rapid growth of cross-border trade and investment; the spread of technology and transportation infrastructure to connect distant populations; and the flow of people, ideas, and shared culture between countries. While globalization offers economic opportunities through greater competition and access to new markets, it also poses challenges like increased competition that can negatively impact local industries and monopolization of markets by powerful multinational corporations.
Globalization refers to the increasing integration of economies and societies around the world through cross-border movement of goods, services, technology and ideas. It involves several dimensions including economic, technological, sociocultural and political. The document discusses the various definitions, types, advantages and disadvantages of globalization. While globalization has increased trade and growth opportunities, it has also been criticized for exacerbating inequality and unemployment, undermining local cultures and weakening the control of national governments. The impact of globalization on development has been mixed, with both benefits and challenges that need to be addressed.
The document discusses three major areas of globalization: economic, cultural, and political. It provides details on each:
Economic globalization involves increasing economic interdependence and integration between countries through cross-border movement of goods, services, technology and capital. It includes the globalization of production and markets.
Cultural globalization refers to the transmission of ideas, meanings and values around the world, intensifying social relations through shared consumption of diffused cultures. It brings increasing interconnectedness among populations and cultures.
Political globalization involves the growth of the worldwide political system in size and complexity, including the declining importance of nation-states and rise of other actors like international organizations.
The document also discusses aspects
Globalization is the process by which ideas, knowledge, information, goods, and services spread around the world through integrated economies marked by free trade and movement of capital and labor. The document discusses the three main components of economic globalization: production, finance, and markets. It also examines cultural globalization through the globalization of food, sport, and converging consumption patterns. Political globalization is discussed through examples like the European Union and NATO, which establish international norms and ease movement and trade but can also decrease accountability. The global economy refers to interconnected worldwide economic activities between countries that can have positive or negative impacts, and emerging markets are important for long-term world economic outlook and microeconomic importance.
This document provides an introduction to the study of globalization. It defines globalization as the increasing connectivity between people across large distances. The document outlines intended learning outcomes, competing conceptions of globalization, and perspectives from different disciplines. It also discusses theories of globalization, the emergence and expansion of global markets, arguments for and against homogenization, and potential harms of globalization.
Globalization, nationalism, and public administration present challenges and opportunities:
1. Globalization increases economic integration worldwide while nationalism promotes unique national identity, creating tensions.
2. Globalization impacts governance by increasing the influence of private actors and reducing the state's role, though the state still regulates economic policies.
3. It also blurs public-private distinctions as private firms provide more public services while governments operate more like businesses.
The document discusses different perspectives on the concept of globalization. It begins by explaining mainstream economic views of globalization as increasing international trade and integration of markets. It also discusses emerging views that see globalization's impacts as reaching beyond economics to transform political, social and cultural institutions as well. Globalization is described as occurring through various dimensions including changes in firms and production processes, the rise of global governance systems, and social and environmental movements. The challenges it poses for government policymaking are noted. Overall, the summary captures that the document presents a wide-ranging overview of concepts and debates surrounding the multidimensional nature and impacts of globalization.
Globalization refers to the increasing integration and interdependence of countries through increased movement of goods, capital, services, and people across borders. It involves growing economic, political, and cultural interconnections between societies around the world. Key aspects of globalization include the rapid growth of cross-border trade and investment; the spread of technology and transportation infrastructure to connect distant populations; and the flow of people, ideas, and shared culture between countries. While globalization offers economic opportunities through greater competition and access to new markets, it also poses challenges like increased competition that can negatively impact local industries and monopolization of markets by powerful multinational corporations.
Globalization refers to the increasing integration of economies and societies around the world through cross-border movement of goods, services, technology and ideas. It involves several dimensions including economic, technological, sociocultural and political. The document discusses the various definitions, types, advantages and disadvantages of globalization. While globalization has increased trade and growth opportunities, it has also been criticized for exacerbating inequality and unemployment, undermining local cultures and weakening the control of national governments. The impact of globalization on development has been mixed, with both benefits and challenges that need to be addressed.
The document discusses three major areas of globalization: economic, cultural, and political. It provides details on each:
Economic globalization involves increasing economic interdependence and integration between countries through cross-border movement of goods, services, technology and capital. It includes the globalization of production and markets.
Cultural globalization refers to the transmission of ideas, meanings and values around the world, intensifying social relations through shared consumption of diffused cultures. It brings increasing interconnectedness among populations and cultures.
Political globalization involves the growth of the worldwide political system in size and complexity, including the declining importance of nation-states and rise of other actors like international organizations.
The document also discusses aspects
This document is an introductory chapter about global studies, globalization, and global citizenship. It discusses how global studies emerged as a field of academic study to address increasingly global issues. It explores various definitions of globalization and debates around whether it is positive or negative. Finally, it compares the concept of global citizenship to traditional definitions of citizenship, noting global citizens see their local actions as having global consequences and responsibility.
Global education and current trends from social abstract for the paperAmarwaha
The last century intense with a dream and aspirations and major social experiments has ended with general collapse of initiative for social transformation and total disillusionment with efforts of ‘development’ of the so called ‘developing’ nations. The so called victorious ideology-capitalism- has sought to consolidate its triumph with a call for ‘globalization’ for freeing of market, for unchecked hunting by private capital within and across nations with total disregard for the sovereignty rights of nations across the world. Globalization did not develop evenly: indeed, it was accompanied by inequality and conflict. The global development of economic and social relations has been paralleled by wide disparities between North and South.
GLOBAL EDUCATION AND CURRENT TRENDS FROM SOCIAL-abstract for the paperamita marwaha
Globalization is an economic, social, cultural, and environmental process that has led to increasing global integration and interdependence. It has driven major changes through technological innovations, broader political changes, and economic policies over the past decades. However, globalization has also been accompanied by inequality and conflicts between nations. Education can help address some of the controversies around globalization by promoting global awareness, sustainable development, human rights, democracy, and peace. Global education aims to develop attitudes and skills to avoid indifference, consider interdependencies among nations, and encourage responsible action to address global challenges.
Disadvantages Of Economic GlobalizationBeth Johnson
The document discusses some of the economic impacts of globalization, both positive and negative. Positively, globalization has allowed countries to access cheaper goods and services through international trade. It has also created new job opportunities overseas. However, it has also been criticized for making wealthier parts of the world richer while making poorer areas poorer relatively. It has also disrupted some domestic industries. Overall, the document presents both sides of the economic impacts of globalization.
1Annotated bibliographyBryant, R. A. (2000). Acute Stress .docxhyacinthshackley2629
1
Annotated bibliography
Bryant, R. A. (2000). Acute Stress Disorder: A Handbook of Theory, Assessment, and Treatment.
This article highlights the tools of avoiding the development of the PTSD through finding along with treating those with the Acute Stress Disorder. Moving on the clinical along with research experience, they review many problems as well as detail procedures for utilizing cognitive behavior therapy for treating the Acute Stress Disorder (Bryant, 2000).
Thornton, L. L. (2001). Recovery From Schizophrenia.
This article has been the life experience story about Louise Thornton, the mother of 3 kids. 2 of them are diagnosed with the mental illness. Her son has been diagnosed with the schizoaffective disorder are living with symptoms for more than twenty years. Her daughter has the dual diagnosis as well as severe depression (Thornton, 2001).
References
Bryant, R. A. (2000). Acute Stress Disorder: A Handbook of Theory, Assessment, and Treatment.
Thornton, L. L. (2001). Recovery From Schizophrenia.
Running Head: GLOBALIZATION 1
GLOBALIZATION 11
Globalization
Student’s Name
Instructor’s Name
Course Title
Date
Introduction
In past few years globalization has been much discussed issue. In this essay, I would attempt to describe the meaning of word globalization along with I would evaluate the benefits as well as drawbacks of the global world. Globalization has altered the face of world. Apart from that, I would discuss major changes in the trade policies of globalization. And at last, I would evaluate the consequences for migration within the global world.
Globalization
Term ‘A Global Village’ has majorly been related to Marshall McLuhan (Baker, 2011). In its books he terms how world has contracted into single big village. Global Village is called as the effects about globalization, mass media along with information and communication technology. As per this philosopher and sociologist, there would be just major culture left within this world. Capability for somebody for gathering the information quite fast wherever they have been provides impression, which we live in similar virtual place, in similar village.
With increasing standards of world along with the present concepts as well as complexities within the political, economic along with the socio-cultural ideologies, man has often and regularly pondered on aspects about his nature. Unity, equality, trade as well as commerce have been at forefront of complexities of man.
Having those thoughts in mind, man has moved by history thus trying to satisfy its desires in regard to rest of the people. Advent of 21st century has given birth to concept about making world one village, therefore, globalization. World is getting smaller, has been the term utilized quite often for describing the nowadays world along with globalization. Economic growth has grasped majorly all the nations.
Globalization has been the process, which began to appear at finish of 19th cen.
GLOBALIZATION and The Globalization Paradox: Why Global Markets, States, and ...tesfa7
is the process of interaction and integration among people, companies, and governments worldwide (en.m.Wikipedia.org). The authors of the articles discussed that;
Impacts of Globalization on developing and developed countries
Faire economic distribution and employment opportunities
National government demands to frame their policy aligned with international environmental laws and regulations
This document discusses globalization and its relationship to international relations. It begins by defining globalization and how it interconnects cultures and economies on a global scale. Both advantages and disadvantages of globalization are then examined. Key advantages include increased GDP, reduced unemployment, and greater competition. Key disadvantages include uneven distribution of wealth between developed and developing countries. The document concludes by stating that while globalization faces obstacles, its positive effects will prevail if people and governments make cooperative efforts to address issues like poverty and migration.
Globalization Essay
Introduction Globalization
Essay on Cultural Globalization
An Introduction to Globalization Essay
Essay on Globalization
Essay on The History of Globalization
Essay On Globalisation
Advantages of Globalization Essay
Essay on Globalization Is Good
This document discusses perspectives on globalization from both pro-globalists and anti-globalists. It outlines some of the perceived benefits of globalization such as increased trade and economic growth. However, it also notes concerns of anti-globalists, including threats to national economies, environmental degradation, and loss of jobs in developed countries. Anti-globalist perspectives come from both developed and developing nations. The document provides an overview of the complex debate around the impacts of globalization.
This document discusses the impacts of globalization across various areas of society. It notes that globalization has affected economies, politics, and cultures around the world. Specifically, it has led to both benefits like economic growth but also issues like rising inequality between rich and poor nations and within nations. It also discusses effects in the areas of technology, trade, culture, the environment and governance. Overall, the document analyzes the wide-ranging impacts of globalization that have both positive and negative consequences.
Globalization is a complex phenomenon with arguments on both sides. Proponents argue that globalization leads to more efficient use of resources and economic growth that benefits all involved. However, critics argue that globalization threatens jobs and wages as companies outsource work overseas, and that it could undermine national sovereignty as corporations gain more power. Overall, there are reasonable perspectives on both sides of this complex issue with reasonable arguments that globalization may have both benefits and drawbacks.
Globalization refers to the increased integration and interdependence of national economies through cross-border movement of goods, capital, services, technologies and people. It has led to greater international trade, cultural exchange and development of global telecommunications infrastructure. While proponents argue it increases economic growth and efficiency, critics argue it can negatively impact national sovereignty, local cultures and lead to greater inequality. The document outlines both the advantages such as increased employment, education and cheaper goods, as well as disadvantages like health issues, environmental degradation and uneven wealth distribution that have resulted from globalization.
The document defines globalization as the increasing economic interdependence between countries through rising trade and financial flows. It involves the integration of economic, political and cultural aspects worldwide. The stages of globalization began in 1490 with nautical developments, continued in 1890 with European industrialization, and reached a third stage in 1990 with the rise of multinational corporations and communication reforms. Globalization is driven by advances in transportation, telecommunications, and other factors that increase interdependence between economic and cultural activities worldwide.
Seminar on the Politics of Globalization and International.pptxEtana2
This document summarizes a seminar on globalization and international development presented by Dr. Gizachew Asrat. It begins by defining key terms related to globalization such as globalization, globalism, and actors in the process. It then discusses the causes and aspects of globalization including economic, political and socio-cultural dimensions. The document also outlines major theories of development including modernization theory, dependency theory, and world systems theory. It provides examples to illustrate concepts such as Rostow's stages of economic growth and the center-periphery model of dependency theory. In closing, the document discusses key concepts in development and compares economic growth and development.
PA 315Government Business RelationsChapter 11W.docxkarlhennesey
This document provides an overview of topics related to globalization and international trade, including:
- Types of globalization such as economic, political, social, and cultural globalization.
- Concepts around free trade such as theories of trade, advantages and disadvantages of free trade, and comparisons to fair trade and protectionism.
- Related topics such as neoliberalism, regional trade agreements, and international finance institutions.
The document discusses these topics through definitions, examples, and discussions of implications to provide context around government business relations in an increasingly globalized world.
PA 315Government Business RelationsChapter 11Wemelyvalg9
PA 315
Government Business
Relations
Chapter 11
What’s left…
• Globalization
• Neoliberalism and Protectionism
• North American trade agreements (examples of regional trade
agreements) –NAFTA – North American Free Trade Agreement
• Free Trade vs. Fair Trade –
• European Union (regional economy and political integration) –
• IFO: International Finance Institutions –
What is
globalizatio
n?
• When you think of globalization,
do you think of it in positive
terms or negative terms?
Globalization
• Globalization is an umbrella term
• It is the free movement of goods, services, and people across the world in
a seamless and integrated manner
• Things to consider…
• Most regions are self sufficient – locally produced foods, fuels and raw materials
are generally processed for local consumption.
• Even though trade has been around for centuries (silk traders), trade between
regions was limited.
• Today, economies of most countries are interconnected creating a single,
interdependent global economy.
• The term globalization includes change through the spread of ideas, information and
perceptions which lead to cultural and social changes.
Types of Globalization
• Economic – Countries that trade with many others and have few trade barriers
are economically globalized.
• Political – The amount of political co-operation there is between countries.
• Social - A measure of how easily information and ideas pass between people in
their own country and between different countries (includes access to the
internet and social media networks).
• Cultural – transmission of ideas, meanings and values around the world.
Economic Globalization
Advantages and Disadvantages
Advantages –
Increase in productivity
Economic growth
International peace
Increased standard of living
Access to new markets
Introduction to newer technologies
Disadvantages
Depletion of local resources
Violation of human rights
Widening disparity in income
Lack of fair trade
Examples
Parts of automobiles
being assembled in the
United States while
originating in Japan
Avocados being sold all
year long in the United
States – seasonal at one
time
Asian restaurants in the
United States
Fashion trends in Europe
end up in Brazil
Political
Globalizatio
n
• Political globalization refers to
the growth of the worldwide
political system that includes
national governments, their
governmental and
intergovernmental organizations.
Examples
• The European Union (EU) –
• The European Union is a unified trade and monetary body of 28 member countries. Its purpose is to be more
competitive in the global marketplace. At the same time, it must balance the needs of its independent fiscal and
political members.
• Intergovernmental agencies like the:
• International Monetary Fund (IMF)- is an organization of 189 countries, working to foster global monetary
cooperation, secure financial stability, facilitate inte ...
Globalization has connected the world through increased trade, investment, and cultural exchange. While it has reduced poverty and improved living standards for many, its impacts differ across countries. Economic globalization can benefit stronger nations by increasing their access to larger markets and cheaper imports, but it may harm weaker countries by compelling them to remove protections and compete without subsidies. Whether globalization leads to growth and poverty reduction depends on a nation's ability to adapt and control the pace of integration.
The Contemporary World-Lecture for College Students.pdfMaSolitaVirtudazo
This document provides an overview of key concepts and lessons from a university lecture on globalization. It defines globalization as the process of expanding socioeconomic and socioecological processes across national borders on a global scale. It discusses measurements of globalization like the Global Connectedness Index. Major drivers of globalization included reduced trade barriers and technological advances. The document also examines debates around globalization, noting both potential positive impacts like increased trade but also negative impacts like growing inequities and exploitation. Key aspects of globalization discussed include economic, cultural, and political globalization as well as flows of trade, capital, and people between countries.
Globalization is a process of increasing interconnectedness between societies around the world through the international exchange of goods, services, money, ideas and culture. This has led to traditional societies merging to form a more homogeneous global society. While globalization has increased communication of ideas like democracy and human rights, it has also contributed to issues like unequal wealth distribution, global terrorism, and environmental damage. Debates around balancing the advantages and disadvantages of globalization continue.
Essay on Globalization
Globalization
Essay about Globalization and Localization
Globalization
Globalization Essay
Globalization Essay
globalisation
Globalization (Term Paper)
An Introduction to Globalization Essay
Globalization Essay
An Overview of Globalization Essay
Globalization Essay
Resources Assigned readings, ERRs, the Internet,and other resources.docxkarlhennesey
Resources: Assigned readings, ERRs, the Internet,and other resources
Write
a no more than 3 page paper, in which you identify a total compensation plan for an organization focused on internal equity, and a total compensation plan for an organization focused on external equity.
Identify
advantages and disadvantages of internal and external equity for the organizations.
Explain
how each plan supports that organization's total compensation objective and the relationship of the organization's financial situation to its plan.
Draw conclusions based upon Electronic Reserve Readings in eCampus
, Martocchio (2009) and/or Milkovich and Newman (2008),
personal experience, and data collected from organizations.
Integrate Week 2 readings
,
Martocchio (2009) and/or Milkovich and Newman (2008),
throughout paper.
Direct quotations should be avoided.
Research should be summarized and synthesized using your own words
; be certain to cite sources of knowledge.
Format
your paper consistent with
APA 6
th
Edition
guidelines.
.
Resource Review Documenting the Face of America Roy Stryker and.docxkarlhennesey
Resource:
Review "Documenting the Face of America: Roy Stryker and the FSA/OWI Photographers," and Ch. 5 of
Oxford History of Art: Twentieth-Century American Art
.
Write
a 200- to 350-word summary responding to the following:
How was photography used as an instrument for social reform? What photograph do you think makes the most powerful social commentary? Why?
Submit
your assignment in a Microsoft
®
Word document using the Assignment Files tab above.
.
More Related Content
Similar to PA 315Government Business RelationsChapter 111.docx
This document is an introductory chapter about global studies, globalization, and global citizenship. It discusses how global studies emerged as a field of academic study to address increasingly global issues. It explores various definitions of globalization and debates around whether it is positive or negative. Finally, it compares the concept of global citizenship to traditional definitions of citizenship, noting global citizens see their local actions as having global consequences and responsibility.
Global education and current trends from social abstract for the paperAmarwaha
The last century intense with a dream and aspirations and major social experiments has ended with general collapse of initiative for social transformation and total disillusionment with efforts of ‘development’ of the so called ‘developing’ nations. The so called victorious ideology-capitalism- has sought to consolidate its triumph with a call for ‘globalization’ for freeing of market, for unchecked hunting by private capital within and across nations with total disregard for the sovereignty rights of nations across the world. Globalization did not develop evenly: indeed, it was accompanied by inequality and conflict. The global development of economic and social relations has been paralleled by wide disparities between North and South.
GLOBAL EDUCATION AND CURRENT TRENDS FROM SOCIAL-abstract for the paperamita marwaha
Globalization is an economic, social, cultural, and environmental process that has led to increasing global integration and interdependence. It has driven major changes through technological innovations, broader political changes, and economic policies over the past decades. However, globalization has also been accompanied by inequality and conflicts between nations. Education can help address some of the controversies around globalization by promoting global awareness, sustainable development, human rights, democracy, and peace. Global education aims to develop attitudes and skills to avoid indifference, consider interdependencies among nations, and encourage responsible action to address global challenges.
Disadvantages Of Economic GlobalizationBeth Johnson
The document discusses some of the economic impacts of globalization, both positive and negative. Positively, globalization has allowed countries to access cheaper goods and services through international trade. It has also created new job opportunities overseas. However, it has also been criticized for making wealthier parts of the world richer while making poorer areas poorer relatively. It has also disrupted some domestic industries. Overall, the document presents both sides of the economic impacts of globalization.
1Annotated bibliographyBryant, R. A. (2000). Acute Stress .docxhyacinthshackley2629
1
Annotated bibliography
Bryant, R. A. (2000). Acute Stress Disorder: A Handbook of Theory, Assessment, and Treatment.
This article highlights the tools of avoiding the development of the PTSD through finding along with treating those with the Acute Stress Disorder. Moving on the clinical along with research experience, they review many problems as well as detail procedures for utilizing cognitive behavior therapy for treating the Acute Stress Disorder (Bryant, 2000).
Thornton, L. L. (2001). Recovery From Schizophrenia.
This article has been the life experience story about Louise Thornton, the mother of 3 kids. 2 of them are diagnosed with the mental illness. Her son has been diagnosed with the schizoaffective disorder are living with symptoms for more than twenty years. Her daughter has the dual diagnosis as well as severe depression (Thornton, 2001).
References
Bryant, R. A. (2000). Acute Stress Disorder: A Handbook of Theory, Assessment, and Treatment.
Thornton, L. L. (2001). Recovery From Schizophrenia.
Running Head: GLOBALIZATION 1
GLOBALIZATION 11
Globalization
Student’s Name
Instructor’s Name
Course Title
Date
Introduction
In past few years globalization has been much discussed issue. In this essay, I would attempt to describe the meaning of word globalization along with I would evaluate the benefits as well as drawbacks of the global world. Globalization has altered the face of world. Apart from that, I would discuss major changes in the trade policies of globalization. And at last, I would evaluate the consequences for migration within the global world.
Globalization
Term ‘A Global Village’ has majorly been related to Marshall McLuhan (Baker, 2011). In its books he terms how world has contracted into single big village. Global Village is called as the effects about globalization, mass media along with information and communication technology. As per this philosopher and sociologist, there would be just major culture left within this world. Capability for somebody for gathering the information quite fast wherever they have been provides impression, which we live in similar virtual place, in similar village.
With increasing standards of world along with the present concepts as well as complexities within the political, economic along with the socio-cultural ideologies, man has often and regularly pondered on aspects about his nature. Unity, equality, trade as well as commerce have been at forefront of complexities of man.
Having those thoughts in mind, man has moved by history thus trying to satisfy its desires in regard to rest of the people. Advent of 21st century has given birth to concept about making world one village, therefore, globalization. World is getting smaller, has been the term utilized quite often for describing the nowadays world along with globalization. Economic growth has grasped majorly all the nations.
Globalization has been the process, which began to appear at finish of 19th cen.
GLOBALIZATION and The Globalization Paradox: Why Global Markets, States, and ...tesfa7
is the process of interaction and integration among people, companies, and governments worldwide (en.m.Wikipedia.org). The authors of the articles discussed that;
Impacts of Globalization on developing and developed countries
Faire economic distribution and employment opportunities
National government demands to frame their policy aligned with international environmental laws and regulations
This document discusses globalization and its relationship to international relations. It begins by defining globalization and how it interconnects cultures and economies on a global scale. Both advantages and disadvantages of globalization are then examined. Key advantages include increased GDP, reduced unemployment, and greater competition. Key disadvantages include uneven distribution of wealth between developed and developing countries. The document concludes by stating that while globalization faces obstacles, its positive effects will prevail if people and governments make cooperative efforts to address issues like poverty and migration.
Globalization Essay
Introduction Globalization
Essay on Cultural Globalization
An Introduction to Globalization Essay
Essay on Globalization
Essay on The History of Globalization
Essay On Globalisation
Advantages of Globalization Essay
Essay on Globalization Is Good
This document discusses perspectives on globalization from both pro-globalists and anti-globalists. It outlines some of the perceived benefits of globalization such as increased trade and economic growth. However, it also notes concerns of anti-globalists, including threats to national economies, environmental degradation, and loss of jobs in developed countries. Anti-globalist perspectives come from both developed and developing nations. The document provides an overview of the complex debate around the impacts of globalization.
This document discusses the impacts of globalization across various areas of society. It notes that globalization has affected economies, politics, and cultures around the world. Specifically, it has led to both benefits like economic growth but also issues like rising inequality between rich and poor nations and within nations. It also discusses effects in the areas of technology, trade, culture, the environment and governance. Overall, the document analyzes the wide-ranging impacts of globalization that have both positive and negative consequences.
Globalization is a complex phenomenon with arguments on both sides. Proponents argue that globalization leads to more efficient use of resources and economic growth that benefits all involved. However, critics argue that globalization threatens jobs and wages as companies outsource work overseas, and that it could undermine national sovereignty as corporations gain more power. Overall, there are reasonable perspectives on both sides of this complex issue with reasonable arguments that globalization may have both benefits and drawbacks.
Globalization refers to the increased integration and interdependence of national economies through cross-border movement of goods, capital, services, technologies and people. It has led to greater international trade, cultural exchange and development of global telecommunications infrastructure. While proponents argue it increases economic growth and efficiency, critics argue it can negatively impact national sovereignty, local cultures and lead to greater inequality. The document outlines both the advantages such as increased employment, education and cheaper goods, as well as disadvantages like health issues, environmental degradation and uneven wealth distribution that have resulted from globalization.
The document defines globalization as the increasing economic interdependence between countries through rising trade and financial flows. It involves the integration of economic, political and cultural aspects worldwide. The stages of globalization began in 1490 with nautical developments, continued in 1890 with European industrialization, and reached a third stage in 1990 with the rise of multinational corporations and communication reforms. Globalization is driven by advances in transportation, telecommunications, and other factors that increase interdependence between economic and cultural activities worldwide.
Seminar on the Politics of Globalization and International.pptxEtana2
This document summarizes a seminar on globalization and international development presented by Dr. Gizachew Asrat. It begins by defining key terms related to globalization such as globalization, globalism, and actors in the process. It then discusses the causes and aspects of globalization including economic, political and socio-cultural dimensions. The document also outlines major theories of development including modernization theory, dependency theory, and world systems theory. It provides examples to illustrate concepts such as Rostow's stages of economic growth and the center-periphery model of dependency theory. In closing, the document discusses key concepts in development and compares economic growth and development.
PA 315Government Business RelationsChapter 11W.docxkarlhennesey
This document provides an overview of topics related to globalization and international trade, including:
- Types of globalization such as economic, political, social, and cultural globalization.
- Concepts around free trade such as theories of trade, advantages and disadvantages of free trade, and comparisons to fair trade and protectionism.
- Related topics such as neoliberalism, regional trade agreements, and international finance institutions.
The document discusses these topics through definitions, examples, and discussions of implications to provide context around government business relations in an increasingly globalized world.
PA 315Government Business RelationsChapter 11Wemelyvalg9
PA 315
Government Business
Relations
Chapter 11
What’s left…
• Globalization
• Neoliberalism and Protectionism
• North American trade agreements (examples of regional trade
agreements) –NAFTA – North American Free Trade Agreement
• Free Trade vs. Fair Trade –
• European Union (regional economy and political integration) –
• IFO: International Finance Institutions –
What is
globalizatio
n?
• When you think of globalization,
do you think of it in positive
terms or negative terms?
Globalization
• Globalization is an umbrella term
• It is the free movement of goods, services, and people across the world in
a seamless and integrated manner
• Things to consider…
• Most regions are self sufficient – locally produced foods, fuels and raw materials
are generally processed for local consumption.
• Even though trade has been around for centuries (silk traders), trade between
regions was limited.
• Today, economies of most countries are interconnected creating a single,
interdependent global economy.
• The term globalization includes change through the spread of ideas, information and
perceptions which lead to cultural and social changes.
Types of Globalization
• Economic – Countries that trade with many others and have few trade barriers
are economically globalized.
• Political – The amount of political co-operation there is between countries.
• Social - A measure of how easily information and ideas pass between people in
their own country and between different countries (includes access to the
internet and social media networks).
• Cultural – transmission of ideas, meanings and values around the world.
Economic Globalization
Advantages and Disadvantages
Advantages –
Increase in productivity
Economic growth
International peace
Increased standard of living
Access to new markets
Introduction to newer technologies
Disadvantages
Depletion of local resources
Violation of human rights
Widening disparity in income
Lack of fair trade
Examples
Parts of automobiles
being assembled in the
United States while
originating in Japan
Avocados being sold all
year long in the United
States – seasonal at one
time
Asian restaurants in the
United States
Fashion trends in Europe
end up in Brazil
Political
Globalizatio
n
• Political globalization refers to
the growth of the worldwide
political system that includes
national governments, their
governmental and
intergovernmental organizations.
Examples
• The European Union (EU) –
• The European Union is a unified trade and monetary body of 28 member countries. Its purpose is to be more
competitive in the global marketplace. At the same time, it must balance the needs of its independent fiscal and
political members.
• Intergovernmental agencies like the:
• International Monetary Fund (IMF)- is an organization of 189 countries, working to foster global monetary
cooperation, secure financial stability, facilitate inte ...
Globalization has connected the world through increased trade, investment, and cultural exchange. While it has reduced poverty and improved living standards for many, its impacts differ across countries. Economic globalization can benefit stronger nations by increasing their access to larger markets and cheaper imports, but it may harm weaker countries by compelling them to remove protections and compete without subsidies. Whether globalization leads to growth and poverty reduction depends on a nation's ability to adapt and control the pace of integration.
The Contemporary World-Lecture for College Students.pdfMaSolitaVirtudazo
This document provides an overview of key concepts and lessons from a university lecture on globalization. It defines globalization as the process of expanding socioeconomic and socioecological processes across national borders on a global scale. It discusses measurements of globalization like the Global Connectedness Index. Major drivers of globalization included reduced trade barriers and technological advances. The document also examines debates around globalization, noting both potential positive impacts like increased trade but also negative impacts like growing inequities and exploitation. Key aspects of globalization discussed include economic, cultural, and political globalization as well as flows of trade, capital, and people between countries.
Globalization is a process of increasing interconnectedness between societies around the world through the international exchange of goods, services, money, ideas and culture. This has led to traditional societies merging to form a more homogeneous global society. While globalization has increased communication of ideas like democracy and human rights, it has also contributed to issues like unequal wealth distribution, global terrorism, and environmental damage. Debates around balancing the advantages and disadvantages of globalization continue.
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PA 315Government Business RelationsChapter 111.docx
1. PA 315
Government Business Relations
Chapter 11
1
Up till now, we have completed the first portion of class, which
we focused on economic development policies and practices in
domestic context. We examined the tensions between
government business relations in the following dimensions:
market vs. government (how much role should government play
in economic development)
public interest vs. private interest (how to balance the pubic
and private interests in economic development)
Starting from today, we are going to the second half of the
class, focusing on economic development policies in the
international context. The tensions between government and
business relations are examined in the following perspectives:
neoliberalism vs. protectionism (how extensive should
government policies be promoting free trade and protecting
domestic industries)
national interest vs. global responsibility (as a player in the
global arena, how to balance the national interest and its global
responsibility)
2. What’s left…
Globalization
Neoliberalism and Protectionism
North American trade agreements (examples of regional trade
agreements) –NAFTA – North American Free Trade Agreement
Free Trade vs. Fair Trade –
European Union (regional economy and political integration) –
IFO: International Finance Institutions –
In the second half of the class, we will shift to analyze the
international trading regimes and government’s role in
managing them. Here are the topics as listed in your syllabus.
NAFTA – Mexico, Canada, and United States
CAFTA – Expansion of NAFTA – includes Central American
countries of
1. Costa Rica
2. El Salvador
3. Guatemala
4. Honduras
5. Nicaragua
In 2004, Dominican Republic was added and the agreement was
renamed CAFTA –DR
The free trade area of the Americas is an expansion to the
NAFTA. Representatives from all countries in North, South,
and Latin America, as well as the Caribbean are involved. The
only country not represented is CUBA.
3. 2
What is globalization?
When you think of globalization, do you think of it in positive
terms or negative terms?
Globalization
Globalization is an umbrella term
It is the free movement of goods, services, and people across
the world in a seamless and integrated manner
Things to consider…
Most regions are self sufficient – locally produced foods, fuels
and raw materials are generally processed for local
consumption.
Even though trade has been around for centuries (silk traders),
trade between regions was limited.
Today, economies of most countries are interconnected creating
a single, interdependent global economy.
The term globalization includes change through the spread of
ideas, information and perceptions which lead to cultural and
social changes.
4
The world is entered into an era of globalism or globalization,
which is an umbrella term for a complex series of economic,
social, technological, cultural and political changes. It is seen
as increasing interdependence, integration, and interaction
between people and firms in different locations.
The driving forces for globalism include the dominance of the
4. neoliberalism philosophy. Ideologically, more nations have
become in agreement in economic terms. The second reason is
the technology advancement, especially the Internet and the
WWW, which reduced the role of place. The third force is the
greater global awareness. e.g. NASA astronauts brought back
environmental movement.
Derogatory: tending to lessen the merit or reputation of a person
or thing; disparaging; depreciatory: a derogatory remark.
Types of Globalization
Economic – Countries that trade with many others and have few
trade barriers are economically globalized.
Political – The amount of political co-operation there is
between countries.
Social - A measure of how easily information and ideas pass
between people in their own country and between different
countries (includes access to the internet and social media
networks).
Cultural – transmission of ideas, meanings and values around
the world.
Economic Globalization
Advantages and Disadvantages
5. Advantages –
Increase in productivity
Economic growth
International peace
Increased standard of living
Access to new markets
Introduction to newer technologies
Disadvantages
Depletion of local resources
Violation of human rights
Widening disparity in income
Lack of fair trade
6. Examples
Parts of automobiles being assembled in the United States while
originating in Japan
Avocados being sold all year long in the United States –
seasonal at one time
Asian restaurants in the United States
Fashion trends in Europe end up in Brazil
Political Globalization
Political globalization refers to the growth of the worldwide
political system that includes national governments, their
governmental and intergovernmental organizations.
Examples
The European Union (EU) –
The European Union is a unified trade and monetary body of 28
member countries. Its purpose is to be more competitive in the
7. global marketplace. At the same time, it must balance the needs
of its independent fiscal and political members.
Intergovernmental agencies like the:
International Monetary Fund (IMF)- is an organization of 189
countries, working to foster global monetary cooperation,
secure financial stability, facilitate international trade, promote
high employment and sustainable economic growth, and reduce
poverty around the world
World Trade Organization (WTO)- deals with rules of trade
between nations. Goal is to ensure that trade flows as smoothly,
predictably and freely as possible.
United Nations (UN)- established to confront issues such as
peace, security, climate change, sustainable development,
human rights, terrorism, humanitarian and health emergencies,
gender equality, food production, etc.
World Health Organization (WHO)- primary goal is to direct
and coordinate international health
Pros of Political Globalization
Access to international aid and support
World peace
Smaller countries can work together and gain more influence
internationally
International organizations are often committed to spread values
8. like freedom and to fight abuses within countries
Governments can learn from one another
Cons of Political Globalization
State dominance is reduced
The functioning of international organizations is not always
democratic in nature
Larger countries can dominate decisions within organizations
Smaller countries are not as represented
Social Globalization
Pertains to human interaction within countries
Defined as the intensification of worldwide social relations
9. Links distant localities in a way that local happenings are
shaped by events occurring many miles away
The use of communication technologies, and the Internet in
particular, has been widely credited as contributor to the
mobilization of protests
Social Networking
Facebook – has more than 900 million active users allowing for
a real world social connection
Communication can be delivered in the form of text, audio, or
video
Global exchange of views, opinions, and ideas
Encompasses topics –
Family –
Religion –
Education –
Family – transfer of family values and concepts of people of
different societies around the world
Role of women in society
10. Perception of a perfect life can have a negative affect
Religion – ideas and beliefs of different religions are portrayed
to people around the world
Allows for greater religious tolerance and understanding
Can also portray negative images of religion
Education – ideas, values and knowledge, changing the roles of
students and teachers
Increase access to the world
Introduction of technology changing the nature of delivering
education
Western ideas are creeping into societies that want to appear
more modern
Cultural Globalization
Refers to the transmission of ideas, meanings and values around
the world in such a way as to extend and intensify social
relations.
Comes through internet, popular culture media, and
11. international travel.
Examples
Food
Fashion
Festivals
Westernized consumer culture – McDonalds and Coca Cola are
examples of dominance of American products in foreign
countries
Positive Influences
Acceptance of other cultures
Communication
People of different cultures
People of one culture can adopt other cultures
Cooking, music, and fashion
12. Negative Influences
Local cultures are ignored as people want to become more
westernized
Song
Dance
Food
Exploitation of workers and markets
Influence of societal values
Cultures are diminished
Neoliberalism
Globalization has been accelerated by the adoption of free
market principles
Neoliberalism – advocates for transferring control of the
economy from the public to the private sector
Belief that it will lead to improved economic health
Create a more efficient government
Society should be shaped by the free market
Smaller government and more robust role for the market
Basically, what works in the private sector will work also in the
public sector.
The term “globalism” is often used as a substitute for
neolibralism, which is an abbreviation of “neoclassical
liberalism.” It is sometimes described as an effort to revert to
the economic policies of the 18th and 19th centuries classical
liberalism, as articulated by the works of Adam Smith and
13. David Richardo.
The movement emerged during the 1970s and has been lasted
through at least the late-1990s, and possibly into the present (its
continuity is a matter of dispute). In current economic crisis, we
have observed many of the reverse neoliberalism signals
already. The world is definitely at a turning point now.
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Neoliberalism
Policies Advanced by Neoliberalism (John Williamson's
"Washington Consensus“) :
Free trade: removal of trade barriers, like tariffs, subsidies, and
regulatory trade barriers
Privatization: transfer of previously-public-owned enterprises,
goods, and services to the private sector
Fiscal restraint: governments would cut expenditures and/or
raise taxes to maintain a budget surplus
Competitive exchange rates: governments would accept market-
determined exchange rates, as opposed to implemented
government-fixed exchange rates
Undistorted market prices: governments would refrain from
policies that would alter market prices
Limited intervention: (exception for promoting exports,
education or infrastructural development)
Source: Wikipedia
Generally speaking, neoliberalim is market-driven. Policies
advanced by neoliberalism is often called the Washington
Consensus. One major policy of Washington Consensus is free
trade.
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14. Neoliberalism policy implications…
enticement of foreign investment;
reduction of inflation;
reduction of public spending;
privatization of public services;
deregulation of industry and finance;
reduction and flattening of taxes;
restriction of union organization; and, finally,
enforcement of property and land ownership.
Politicians don’t necessarily have to profess faith in all of these
norms to be considered neoliberal. Rather, they have to buy into
neoliberalism’s general market-based logic and its attendant
promise of opportunity..
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Free Trade
23
The major policy pushed by neolibralism is free trade, the
removal of trade barriers, like tariffs, subsidies, and regulatory
trade barriers
Free Trade
Pro-Free Trade Arguments
15. A wider variety of goods to choose (choice)
Specialization in production of goods and services with
advantages (efficiency)
Maximize consumer welfare (welfare)
In this class, we are going to discuss the arguments for and
against free trade which is a major neoliberalism policy.
The pro-free trade arguments include:
It maximizes the interest of consumers throughout the world by
giving them a wider variety of goods from which to choose.
Differences in the efficiency of land, labor, and capital make it
profitable for nations to specialize in the production of goods
and services in which their resource situation is the most
advantageous, and exchange them for the goods and services of
other nations with different resource advantages.
If there were no restraints placed on the movement of goods and
services from one region to another, or from one nation to
another, then in theory the welfare of consumers would be
maximized.
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Theories of Trade
David Ricardo
Absolute advantage
When a nation can produce a good or service more efficiently
than another nation, the latter should buy from the former
Comparative advantage
If a nation has an advantage over another nation in production
of several goods, it should produce the good in which it has the
greatest comparative advantage and buy the good in which it has
16. the least advantage from the other nation.
David Ricardo (18 April 1772-11 September 1823) was a
political economist, often credited with systematizing
economics, and was one of the most influential of the classical
economists, along with Thomas Malthus and Adam Smith.
He was also a member of Parliament, businessman, financier
and speculator, who amassed a considerable personal fortune.
Perhaps the most important of his contributions was the theory
of comparative advantage, an fundamental argument in favor of
free trade among countries and of specialization among
individuals.
Ricardo argued that there is mutual benefit from trade (or
exchange) even if one party (e.g. resource-rich country, highly-
skilled artisan) is more productive in every possible area than
its trading counterpart (e.g. resource-poor country, unskilled
laborer), as long as each concentrates on the activities where it
has relative productivity advantage.
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Absolute Advantage, Comparative Advantage, and Opportunity
Cost
Absolute Advantage = produced at lowest cost
Comparative Advantage = produced at lowest opportunity cost
Opportunity Cost = a benefit that a person could have received,
but gave up, to take another course of action
https://www.youtube.com/watch?v=RpfV0Oerfr8
17. 26
Advantages of Free Trade
1. Increased economic growth
2. More dynamic business climate
3. Lower government spending
4. Foreign direct investment
5. Expertise
6. Technology transfer.
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1. Increased economic growth.
2. More dynamic business climate. Often, businesses were
protected before the agreement. These local industries risked
becoming stagnant and non-competitive on the global market.
With the protection removed, they have the motivation to
become true global competitors.
3. Lower government spending. Many governments subsidize
local industry segments. After the trade agreement removes
subsidies, those funds can be put to better use.
4. Foreign direct investment. Investors will flock to the country.
This adds capital to expand local industries and boost domestic
businesses. It also brings in U.S. dollars to many formerly
isolated countries.
5. Expertise. Global companies have more expertise than
domestic companies to develop local resources. That's
especially true in mining, oil drilling and manufacturing.
6. Technology transfer. Local companies also receive access to
the latest technologies from their multinational partners. As
local economies grow, so do job opportunities. Multi-national
18. companies provide job training to local employees.
As the market potentially served expands from a national to
world market, there are
Gains with declining per-unit production costs (greater
efficiency)
Gains result from the reduction in the declining monopoly
power of domestic firms (less market distortion) -
Consumers gain with increased product variety and lower costs
(consumer focus)
Tax subsidies – an industry that the government wants to
support – through loans, grants, procurement policies that pay
more than the free market pricing and even stock purchases.
Farms – receive subsidies to guarentee our food supply remains
stable and able to meet the needs of our country. Farmers of
grains, corn, wheat, and rice.
Another is the Housing subsidies – comes in tow forms –
interest rate subsidies and down payment assistance. One of the
biggest interest rate subsidies is the mortgage interest deduction
on the federal income tax. Low income families have certain
tax exemptions. Down payment programs such as first time
buyers if you qualify.
FANNIE MAE AND FREDDIE MAC – was the bailout
Cash for Clunkers program was a subsidy to auto dealers – they
19. received a 3500 to 4500 subsidy from the federal government to
encourage dealers to discount new vehicle purchases.
Obamacare subsidies -
Disadvantages of Free Trade
1. Increased job outsourcing. Reducing tariffs on imports allows
companies to expand to other countries. Without tariffs, imports
from countries with a low cost of living cost less. It makes it
difficult for U.S. companies in those same industries to
compete, so they may reduce their workforce.
2. Theft of intellectual property. Many developing countries
don't have laws to protect patents, inventions and new
processes. The laws they do have aren't always strictly
enforced. As a result, corporations often have their ideas stolen.
They must then compete with lower-priced domestic knock-offs.
3. Crowd out domestic industries. Many emerging markets are
traditional economies that rely on farming for most
employment. These small family farms can't compete with
subsidized agri-businesses in the developed countries. As a
result, they lose their farms and must look for work in the
cities.
4. Poor working conditions. Multi-national companies may
outsource jobs to emerging market countries without adequate
labor protections. As a result, women and children are often
subjected to grueling factory jobs in sub-standard conditions.
5. Degradation of natural resources. Emerging market countries
often don’t have many environmental protections. Free trade
leads to depletion of timber, minerals and other natural
resources. Deforestation and strip-mining reduce their jungles
and fields to wastelands.
6. Destruction of native cultures. As development moves into
20. isolated areas, indigenous cultures can be destroyed. Local
peoples are uprooted. Many suffer disease and death when their
resources are polluted.
7. Reduced tax revenue. Many smaller countries struggle to
replace revenue lost from import tariffs and fees.
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1. Increased job outsourcing
2. Theft of intellectual property
3. Crowd out domestic industries
4. Poor working conditions
5. Degradation of natural resources
6. Destruction of native cultures
7. Reduced tax revenue
Free Trade vs. Fair Trade
Free Trade vs. Fair Trade
21. Main Goal
Focuses on
Major Actions
Cre
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Free Trade or Protectionism
Autarky is the quality of being self-sufficient. Usually the term
is applied to political states or their economic systems.
Autarky exists whenever an entity can survive or continue its
activities without external assistance or international trade.
https://www.youtube.com/watch?v=5ITyd1Pzek0
Autarky is the quality of being self-sufficient. Usually the term
is applied to political states or
their economic systems. Autarky exists whenever an entity can
survive or continue its activities without external assistance or
international trade.
Marion Anne Perrine "Marine" Le Pen is a French politician and
lawyer, and president of the National Front. She went against
Emmanuel Macron – President of France – May of 2017
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22. Protectionism
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If free trade is as described, would there be anybody against
free trade? What could be their arguments?
Protectionism
Protectionism refers to economic policies that restrain trade
between nations, through methods such as
tariffs on imported goods,
restrictive quotas,
a variety of restrictive government regulations designed to
discourage imports,
anti-dumping laws in an attempt to protect domestic industries
in a particular nation from foreign take-over or competition.
Source: Wikipedia
Let’s now look at those arguments against free trade from the
protectionism camp. Protectionism refers to economic policies
that restrain trade between nations, through methods such as
tariffs on imported goods, restrictive quotas, a variety of
restrictive government regulations designed to discourage
imports, and anti-dumping laws in an attempt to protect
domestic industries in a particular nation from foreign take-over
or competition.
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Forms of protectionism
Subsidies:
23. Tax credits, direct subsidies (loans)
Infrastructure subsidies or free resources such as water or use of
public lands at little cost
Exchange controls:
currency values can be controlled and that affects the trading
relationship.
Currencies with low valuation can encourage low imports and
high exports by keeping value of money low against other
currencies.
e.g., China today
Dumping: selling a product in another country at a cost lower
than its production cost
*These three forms “unfairly” promote domestic goods in
foreign markets.
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The second group refers to those “unfairly promote domestic
goods in foreign markets.”
Subsidies: tax credits, direct subsidies (loans), infrastructure
subsidies or free resources such as water or use of public lands
at little cost
Exchange controls: currency values can be controlled and that
affects the trading relationship. Currencies with low valuation
can encourage low imports and high exports by keeping value of
money low against other currencies. i.e. China today
Dumping: selling a product in another country at a cost lower
than its production cost often made up by government subsidy.
i.e. one Hyundai model that cost $3700 to produce was sold for
$5000 in Korea and $2200 overseas. The car was overpriced in
Korea and underpriced in South East Asia and Latin America.
The intent was to establish a market for the car in these areas by
selling below cost, with the Korean government covering the
loss.